FY2024 Earnings Forecast for RCUS Issued By HC Wainwright

Arcus Biosciences, Inc. (NYSE:RCUS - Free Report) - Equities research analysts at HC Wainwright lowered their FY2024 earnings per share estimates for Arcus Biosciences in a research note issued to investors on Thursday, November 7th. HC Wainwright analyst E. Bodnar now forecasts that the company will post earnings of ($3.28) per share for the year, down from their previous estimate of ($3.20). HC Wainwright currently has a "Neutral" rating and a $20.00 target price on the stock. The consensus estimate for Arcus Biosciences' current full-year earnings is ($3.25) per share. HC Wainwright also issued estimates for Arcus Biosciences' Q4 2024 earnings at ($1.20) EPS, FY2025 earnings at ($3.54) EPS, FY2026 earnings at ($5.96) EPS, FY2027 earnings at ($6.17) EPS and FY2028 earnings at ($2.92) EPS.

Arcus Biosciences (NYSE:RCUS - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($1.00) EPS for the quarter, topping analysts' consensus estimates of ($1.06) by $0.06. The firm had revenue of $48.00 million for the quarter, compared to analysts' expectations of $38.95 million. Arcus Biosciences had a negative return on equity of 45.59% and a negative net margin of 102.66%. The company's quarterly revenue was up 50.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.94) earnings per share.

Other research analysts have also recently issued research reports about the stock. Barclays lifted their price target on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Wedbush reissued an "outperform" rating and set a $36.00 price target on shares of Arcus Biosciences in a report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arcus Biosciences in a research note on Thursday, October 3rd. Evercore ISI raised Arcus Biosciences to a "strong-buy" rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company assumed coverage on shares of Arcus Biosciences in a report on Tuesday, October 8th. They issued an "overweight" rating and a $29.00 target price for the company. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $34.13.

Arcus Biosciences Stock Performance

NYSE RCUS traded down $0.10 during trading hours on Monday, hitting $17.75. The company's stock had a trading volume of 1,121,293 shares, compared to its average volume of 738,168. Arcus Biosciences has a 12 month low of $12.95 and a 12 month high of $20.31. The company's 50 day simple moving average is $16.61 and its two-hundred day simple moving average is $16.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.14. The company has a market cap of $1.62 billion, a P/E ratio of -5.67 and a beta of 0.89.

Institutional Trading of Arcus Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Headlands Technologies LLC purchased a new stake in Arcus Biosciences in the first quarter valued at about $59,000. Innealta Capital LLC purchased a new stake in Arcus Biosciences during the 2nd quarter worth approximately $66,000. Point72 DIFC Ltd acquired a new position in Arcus Biosciences during the 2nd quarter valued at approximately $83,000. Quest Partners LLC raised its holdings in shares of Arcus Biosciences by 40,904.3% in the third quarter. Quest Partners LLC now owns 9,431 shares of the company's stock worth $144,000 after buying an additional 9,408 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Arcus Biosciences by 7.4% during the first quarter. ProShare Advisors LLC now owns 10,846 shares of the company's stock valued at $205,000 after buying an additional 746 shares during the last quarter. Institutional investors own 92.89% of the company's stock.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.